AutoNation, a national network of auto sellers, received more than $77 million in federal small-business funds despite being a company worth billions that employed more than 26,000 people before the pandemic.
In response to questions from The Washington Post, AutoNation Executive Vice President Marc Cannon said that the company’s board voted Thursday to return the funds even though the company had acquired them under the rules created by Congress and intended to use the money only to pay employees.
The Post reviewed documents detailing the AutoNation loans and interviewed two employees of the business, who spoke on the condition of anonymity because they were not authorized by the company to discuss the matter. Continue reading.